The most important factor to consider when starting to build a business is the target audience. You have to think of who would you want to cater to. Who are the communities that you may profit off of. Like for example if there is a school near you, you should know that students would be your target audience. You should start a business where students can buy materials from or a place they can study or even hang out around. I believe that if you studied your target audience, the first step of your business is already successful enough.
Determining the target audience or selling price is very important in building a business, this is the main key. Create a promotion for a few weeks or a few months to attract interest or buyers, create a bundling package that offers several products at a cheaper price than if purchased separately. and create some other promotions like collecting points or stickers every time they shop, and after reaching a certain amount, they can exchange these points for discounts or free products. This can also increase sales or the business you run.
When starting a business, the fundamental thing to consider is determining a strategic location. Next, you need to determine what product or service you want to sell, who you want to target, and how you'll market it. A good example of marketing is offering points or discounts early on to attract more customers. Create products that are truly needed by the market, at competitive prices, and make your business as attractive as possible. Remember, no matter how good your business is, the customer will always be the judge.
Starting a business is like entering an unfamiliar territory with only a map and no guide. Therefore, you must experience the ups and downs of business, gain experience, and develop a business mindset that will last.